The Securities Board of Nepal (SEBON) has approved the Initial Public Offering (IPO) of Bhujung Hydropower Limited (BJHL). The approval was issued on Mangsir 11, 2082. Under the approved plan, the company will issue 2,000,000 shares to the general public at a par value of Rs. 100 per share. Kumari Capital Ltd has been appointed as the issue manager for this public offering.

In a related assessment, ICRA Nepal Limited has downgraded Bhujung Hydropower’s issuer rating from [ICRANP-IR] B+ to [ICRANP-IR] B-. This downgrade reflects an increased level of perceived risk regarding the company’s ability to meet its financial commitments on time.

Established in 2015, Bhujung Hydropower (P.) Ltd is currently developing the Upper Midim Hydropower Project, a run-of-river project with a capacity of 7.5 MW. The project is located in Kwhlosothar Rural Municipality of Lamjung district, while the company’s central office operates from Old Baneshwor, Kathmandu.